Nigeria Online Food Delivery Market Analysis and Forecast, 2019-2028

Market Introduction and Overview

The Nigeria online food delivery market refers to the market for the delivery of food and beverages ordered through online platforms. The market has been growing rapidly, driven by the increasing use of digital technologies, the increasing availability of food delivery platforms, and the increasing demand for convenient and hassle-free food delivery solutions.

The Nigeria online food delivery market is expected to grow at a CAGR of 20% from 2022 to 2028, primarily driven by the increasing use of digital technologies, the increasing availability of food delivery platforms, and the increasing demand for convenient and hassle-free food delivery solutions. The Nigeria Online Food Delivery market is expected to reach US$ 1 billion by 2028, driven by the increasing demand for online food delivery services and the increasing number of consumers using food delivery platforms to order food and beverages.

Market Segmentation

The Nigeria online food delivery market can be segmented based on the type of food delivery platform, the type of cuisine, and the end-user industry. Based on the type of food delivery platform, the market can be segmented into restaurant-to-consumer platforms, aggregator platforms, and hybrid platforms. Based on the type of cuisine, the market can be segmented into local cuisine, international cuisine, and others. Based on the end-user industry, the market can be segmented into households, offices, and others.

Regional Analysis

The Nigeria online food delivery market is a rapidly growing market, driven by the increasing use of digital technologies, the increasing availability of food delivery platforms, and the increasing demand for convenient and hassle-free food delivery solutions. The market is expected to grow significantly in the coming years, driven by the increasing demand for online food delivery services and the increasing number of consumers using food delivery platforms to order food and beverages.

Competitive Landscape

The Nigeria online food delivery market is highly competitive, with a large number of players operating in the market. Key players in the market include Jumia Food, Foodpanda, and others. These players are focusing on expanding their service offerings, improving their delivery infrastructure, and increasing their presence in the country to increase their market share.

Market Outlook and Scenario

The Nigeria online food delivery market is expected to grow significantly in the coming years, driven by the increasing use of digital technologies, the increasing availability of food delivery platforms, and the increasing demand for convenient and hassle-free food delivery solutions. Companies operating in the market are focusing on expanding their service offerings, improving their delivery infrastructure, and increasing their presence in the country to increase their market share. The increasing demand for online food delivery services and the increasing number of consumers using food delivery platforms to order food and beverages are expected to drive the growth of the market in the coming years. The market presents a significant opportunity for companies to increase their revenue and market share by expanding their presence in the country and offering convenient and reliable food delivery solutions to customers.

Research Methodology

RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.

RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:

• Defining the problem by understanding the type of market and data required by the client.
• Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
• Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
• Evaluating and analyzing the data by referring to data sources utilized and leveraged.
• Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.

Primary Intelligence

• RationalStat utilizes surveys, questionnaires, focus groups, and one-to-one interviews with CXOs, industry partners, trade bodies, association members, ex-employees, and industry professionals to collect insights and quantitative/qualitative data specific to client needs. RationalStat quickly gets to the ‘why’ behind the ‘what’ demonstrated by secondary data.
• RationalStat takes a unique approach to arrive at market conclusions and actionable insights for clients.
• We have the technology and strong in-house resource pool with extensive experience in the global and regional markets, across a wide variety of categories and stakeholders.
• Strong language proficiency and capability with coverage across more than 70 language areas.

Secondary Sources

• Annual reports, company filings, investor presentations, product catalogs, and company documents
• Industry and market-related documents available in the public domain
• Paid databases including Bloomberg, Factiva, S&P Capital IQ, FactSet, Refinitiv Eikon, ICIS, EUWID, and Thomson Reuters, among others
• Whitepapers, research papers, and industry blogs.